Bond yields edged higher on Monday as India’s inflation based on wholesale price index (WPI) declined further to 1.34% (Provisional) for the month of March 2023 as against 3.85% recorded in February 2023, due to fall in prices of non-food articles, mineral oils and electricity. The wholesale inflation was 4.73% in January 2023.
In the global market, U.S. Treasury yields were mixed on Monday as investors assessed the outlook for the U.S. economy after last week's economic data suggested inflation could be easing and as bank earnings season continues. Furthermore, Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world's second-largest oil consumer.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.24% from its previous close of 7.22% on Thursday.
The benchmark five-year interest rates were trading 4 basis points higher at 7.10% from its previous close of 7.06% on Thursday.
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